What Things Should I Consider Before Making An Offer On A Home?

Even before starting to look at homes, find out what price home you can afford.  In general, you can afford to buy a home equal in price to three times your gross annual income.  More precisely, however, the price you can afford to pay for a home will depend on six factors: 

1) Your income;
2) The amount of cash you have available for down payment, closing costs, and cash reserves required by the lender;
3) Your outstanding debts;
4) Your credit history;
5) The type of mortgage you select; and
6) Current interest rates. 

The process of buying a home is much easier if you start out by getting pre-qualified or even pre-approved with your lender for a home loan.  This amount will let you know how much home you can buy, and makes you a more credible buyer.

To get a free money-saving report, “8 Secrets For Saving Thousands When Finding, Buying And Financing Your Home,” Please Mail Me.  It’s free as part of my consumer service program.  You can alsocall me with any real estate question at: 919-582-2927.




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